- No tax on ICC income, subsidiaries or non -resident delegates.
- The exemptions do not cover the sales tax or the federal excise duties, explains the ECC.
- According to the exemption, exemption was a prerequisite for the acquisition of the accommodation rights of the event.
Islamabad: The Economic Coordination Committee (ECC) of the firm approved on Thursday the exemptions from income tax for the International Cricket Council (ICC) as part of the ICC Champions 2025 trophy.
The committee deliberated on the summary of the income division. These exemptions align with international best practices to organize global sporting events, said a statement published here.
The Cabinet’s Economic Coordination Committee (ECC) met today under the chairmanship of the Minister of Finance and Income, Senator Muhammad Aurangzeb, at the Finance Division, Islamabad.
The meeting was followed by the Minister of Petroleum, Musadik Masood Malik; The Minister of Industries and Production, Rana Tanveer Hussain; the president of the FBR; the president of the SECP; Federal secretaries; and higher officers of the ministries and divisions concerned.
Under the standardized accommodation rights agreement between the ICC and Pakistan, no tax or deduction will be applied to the ICC income, its subsidiaries, associates, civil servants and non -resident delegates. However, Pakistani residents, including Pakistan Cricket Board (PCB), will remain subject to income tax on their tournament income. There will be no exemption from the sales tax and federal excise duties (Fed).
The tax exemption should not lead to loss of income, as it was a prerequisite for the guarantee of the accommodation rights of the tournament.
The committee deliberated on important economic issues and approved key decisions.
The Committee also discussed the summary of the Ministry of National Food Security and Research concerning the lifting of the commercial export of sheep and goats to Kuwait, but postponed the agenda for more Clarification and reasonable diligence.
An additional technical subsidy (TSG) of 6.859 billion was approved in favor of the Ministry of Energy (energy division) for development spending during the current financial year (2024-25).
Based on the summary of the petroleum division, the ECC has also approved the extension of the GNL framework agreement between Pakistan LNG Limited (PLL) and Socar Trading for another three years. Initially signed in 2023, the agreement allows PLL to obtain a cargo of LNG per month when necessary, without any financial obligation or commitments to be made or payable.
The extension is aligned with Pakistan’s strategy for the flexible LNG supply according to seasonal demand, guaranteeing profitable energy solutions.